UPSC CDS GS Economy Questions Part 1

In India, the base year of the new GDP series has been shifted from 2004-05 to 2011-12. Gross Domestic Product (GDP) is the monetary value of all the finished goods and services produced within a country's geographical boundary in a financial year. The first official estimates of the national income were prepared by the Central Statistical Organisation (CSO) with base year 1948-49 for the estimates at constant prices.